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Stochastic Market Sharing, Partial Communication and Collusion
Gerlach, Heiko A. - 2020
This paper analyzes the role of communication between firms in an infinitely repeated Bertrand game in which firms receive an imperfect private signal of a common value i.i.d. demand shock. It is shown that firms can use stochastic, inter-temporal market sharing as a perfect substitute for...
Persistent link: https://www.econbiz.de/10012705850
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Kartell und Marktprozeß : ein stochastischer Ansatz
Haas, Armin - 2002
Märkte darzustellen. Um den Prozeßcharakter von Märkten abbilden zu können, wird deshalb die Theorie diskreter Entscheidungen … eine Vermutung von Praktikern theoretisch untermauern: Trotz des Trittbrettfahrerproblems kann es einem Kartell ohne … bindende Verträge und ohne Bestrafungsmechanismen gelingen, über lange Zeit erfolgreich zu sein. Zwar erreicht das Kartell …
Persistent link: https://www.econbiz.de/10011402167
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Kartell und Marktprozeß : ein stochastischer Ansatz
Haas, Armin - 2002
Persistent link: https://www.econbiz.de/10001631277
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Stochastic Models of Resonating Markets
Lucheroni, Carlo - 2011
This paper describes a way to model a seasonally and irregularly peaking price dynamics, as that originated in commodity and energy markets, using a system of coupled nonlinear stochastic differential equations. The specific case of an electric power market is used to show which microeconomic...
Persistent link: https://www.econbiz.de/10013124714
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Stochastic Models for Spikes and Antispikes in Electricity Prices
Lucheroni, Carlo - 2011
This paper discusses a rather general approach to build nonlinear dynamic models that reproduce some important aspects of electricity price series, as spike and antispike dynamics. Two specific models are proposed first in a continuous time form, then in four discrete time forms. It is then...
Persistent link: https://www.econbiz.de/10013125340
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A Survey of Stochastic Inventory Models with Fixed Costs : Optimality of (s, S) and (s, S)-Type Policies
Perera, Sandun C.; Sethi, Suresh - 2022
Fixed costs of ordering items or setting up a process arise in many real-life scenarios. In their presence, the most widely used ordering policy in the stochastic inventory literature is the (s, S) policy. Optimality of (s, S) policies and (s, S)-type policies have been investigated for various...
Persistent link: https://www.econbiz.de/10014085423
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Quick or persistent? : strategic investment demanding versatility
Steg, Jan-Henrik; Thijssen, Jacco J. J. - 2015
In this paper we analyse a dynamic model of investment under uncertainty in a duopoly, in which each firm has an option to switch from the present market to a new market. We construct a subgame perfect equilibrium in mixed strategies and show that both preemption and attrition can occur along...
Persistent link: https://www.econbiz.de/10011284232
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An electricity market model with generation capacity expansion under uncertainty
Schröder, Andreas - 2012
thermal power plants. Results point to findings which are in line with general theory: Accounting for stochasticity increases …
Persistent link: https://www.econbiz.de/10009666498
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Pricing Electricity Forwards under Future Information on the Stochastic Mean-Reversion Level
Hess, Markus - 2020
We extend the arithmetic multi-factor electricity spot price model proposed by Benth, Kallsen & Meyer-Brandis by adding stochastic mean-level processes to their model and by taking additional information on the future behavior of these mean-level processes into account. The available...
Persistent link: https://www.econbiz.de/10012848664
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Strategic capital accumulation with singular control : conference paper
Steg, Jan-Henrik - 2013
We present a duopoly model of strategic capital accumulation in continuous time with uncertainty, such that investment takes the form of singular control. Spot competition is of Cournot type. For this model there exists a parameterized and Pareto-rankable family of Markov perfect equiblibria in...
Persistent link: https://www.econbiz.de/10010339395